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Bonus
What does seton & set off means in bonus act. this information will be used to know how company decide the percentage of amount to b paid as bonus. also help us to calculate bonus for the employees.
Bonus payment
Hi i just want to check if a company has not paid bonus since 2006 and just came to know about the bonus act which states that a minimum bonus shall be bound to be paid to employees. therefore should the bonus be paid for each year since 2006 until 2010 or what is the minimum years of bonus to be covered and paid to the employees. rgds jane malaysia
Bonus act 1965
Dear seniors i need one clarification under the payment of bonus act that we have 150 employees the payment bonus percentages minimum is 8.33 and max 20. my question is can we calculate the bonus percentage to same all employees or different percentage 1. a employee having 8.33 2. b employee having 12 3. c employee having 11 we have follow this method . please let me its legally correct ?
Bonus payment - new company
1.define bonus payment to employee. 2.is bonus applicable for a new or one year old company? is employees strength a requirement? then how many. do temporary employees are entitled for bonus. 3.if company is making loss in the first year or first 4 years would bonus become applicable. if yes how much 4. which accounting year bonus must be paid and by what date. 5..what is the quantum minimum and to a maximum bonus paid? 6.. would more than 10000 or 15000 per month salary come under bonus payment 7. for those over 10000 per month salary is it must to be paid as exgratia instead of bonus. . 8. can bonus be included in the employee ctc and paid in employee monthly salary with a min.of .8.33 9. in the event o employee misconduct can bonus be held back or adjusted in employee dues in his full & final settlement. appreciate your line of reply against each of those. rgds: chandrasekar /regional manager india
Conditions under which a worker would be eligible for a bonus? what percentage of bonus payment?
"in accordance with the company s bonus policy if a worker s basic salary plus dearness allowance da amounts to less than 21000 rupees but when including house rent allowance hra and other allowances the total exceeds 21000 rupees is the worker eligible for a bonus? if so what percentage of bonus payment does the company intend to allocate to such eligible workers?"
Bonus percentage
Hi everyone please suggest on the industry bpo practices of bonus percentage which is given yearly. the bonus act says 8.33 of annual basicda. but would like to know best industry practices. please note that i am not mentioning about retention bonus/variable pay. i am mentioning about mandatory bonus as per bonus act. thanks pranathi